Economists are closely observing the meeting, as they anticipate a significant increase in the policy rate, with expectations ranging from 250 to 650 basis points.

The CBRT's previous meeting, held on June 22, 2023, saw the policy rate being raised to 15 percent amid mounting concerns over inflation, which has reached a staggering 24-year high.

The announcement of the interest rate decision is scheduled to take place at 14:00 after the meeting concludes, and its outcome is expected to be of great interest to both investors and businesses, who are eagerly seeking measures to address the economic challenges posed by the surging inflation. (ILKHA)